Pricing Analyst Job Description Template
The Pricing Analyst will be responsible for conducting quantitative analysis to support pricing decisions and initiatives. This role requires a highly analytical individual with excellent Excel skills and the ability to think strategically. The Pricing Analyst will work closely with the Sales, Finance, and Marketing teams to develop pricing models and strategies that maximize revenue and profitability. This is a fast-paced environment where attention to detail and strong organizational skills are essential.
Pricing Analyst Job Responsibilities
- Conduct market research and analysis to determine pricing strategies for products and services
- Monitor competitor activity and pricing trends to ensure company remains competitive
- Develop pricing models and scenarios to support decision making
- Prepare reports and presentations on findings for senior management
- Manage price changes in ERP system and coordinate with other departments as needed
- Support sales team with quotes, RFPs, tenders, etc. as required
- Maintain upto-date knowledge of product costings
Objectives
- To develop and implement pricing strategies that maximize profits and market share while remaining competitive.
- To manage and monitor price changes, track competitor pricing, and provide recommendations to management.
- To lead or participate in crossfunctional teams to support new product launches, promotions, and other initiatives.
- To conduct analysis of customer buying trends, sales data, cost of goods sold, and other factors to identify opportunities for improving pricing strategy.
- To develop reporting tools and dashboards to communicate pricing performance to key stakeholders including executive leadership.
Pricing Analyst Job Skills & Qualifications Needed
- A pricing analyst typically needs a bachelor's degree in business, finance, economics, or a related field. In addition, strong analytical and math skills are necessary, as well as the ability to use data analysis software. Excellent communication skills are also important in order to effectively present findings to clients or managers.